U.S. stocks plunged again on Wednesday, confirming a correction for the Nasdaq and erasing the Dow and S&P 500’s gains for the year, as disappointing forecasts from chipmakers and weak home sales data fueled jitters about economic and profit growth.
U.S. stocks tumbled again on Wednesday, confirming a correction for the Nasdaq and erasing the Dow and S&P 500’s gains for the year, as disappointing forecasts from chipmakers and weak home sales data fueled worries about economic and profit growth.
Tesla pulled off what Chief Executive Elon Musk called an “historic quarter” for the electric carmaker on Wednesday, posting a profit, positive cash flow and fatter-than-expected margins as higher production volumes of its new Model 3 began to pay off.
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Advanced Micro Devices Inc on Wednesday forecast fourth-quarter revenue below estimates as the chipmaker wrestled with waning demand from cryptocurrency miners for its high-margin graphic processors, sending its shares down 21 percent.
Ford Motor Co on Wednesday reported slightly higher-than-expected third-quarter profit and stuck to its targets for the year, raising investor hopes for a strong fourth quarter and sending its shares up 7 percent after hours.
Wall Street stock indexes tumbled on Wednesday as spooked investors ran for safety on global economic and political worries while U.S. Treasuries prices climbed and the U.S. dollar surged.
European planemaker Airbus SE is working to improve quality and slash costs on the production of its new A220 jet, company executives said on Wednesday, ahead of a gathering with suppliers this week in Montreal.
U.S. home appliances group Whirlpool Corp reported a quarterly profit that beat analysts’ estimates on Wednesday, boosted by price increases and higher sales in North America as consumers spend more on durable goods in a strong economy.
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U.S. home appliances group Whirlpool Corp’s third-quarter profit fell about 24 percent on Wednesday, as U.S. trade tariffs on steel and aluminum added to its raw materials costs.
Tesla Inc made good on Chief Executive Officer Elon Musk’s promise that it would turn a profit in the third quarter.
Ford Motor Co on Wednesday posted a lower quarterly profit as high commodity costs and a China sales slump partially offset strong demand for pickup trucks and SUVs in North America, but results came in just above analyst estimates.
Microsoft Corp beat Wall Street estimates for revenue and profit in its first quarter on Wednesday, as more businesses signed up for its Azure cloud computing services and Office 365 software.
Visa Inc’s quarterly profit surged 33 percent as the payments network processed more transactions, led by higher consumer spending and a strengthening U.S. economy.
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